Iran, for Italian companies two new EU tools to do business with Tehran

While the Trump administration tightens sanctions against Iran, the European Union reaffirms its commitment to hold fast to the JCPOA (Joint Comprehensive Plan of Action), or the nuclear agreement signed with the Iranian delegation on July 14, 2015 in Vienna. Brussels extends its hand to Tehran and, hand in hand, seeks to facilitate European SMEs interested in doing business with the Islamic Republic of Iran, within the limits of legality and thus the European sanctions regime.

The restrictions on doing business with Iran

In line with the JCPOA, the European Union has ended all economic and financial sanctions imposed with reference to Iran's nuclear program. However, additional restrictions on business with Tehran remain in place, if done with certain parties and with respect to particular categories of goods. To identify these restrictions, the European Commission has just launched a «Helpdesk» and a «Sanctions Tool», two services for businesses so that they can work with peace of mind with their Iranian partners. This is a strong political message from the European leadership to the leadership in Tehran, at a time when the pandemic makes it necessary to import medicines that are instead blocked by U.S. sanctions.
 

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